Capital One Savor Rewards Credit Card New $500 Cash Bonus

By: Tony Phan | Last Updated: October 22, 2018 | This content is not provided or commissioned by the issuer. Opinions expressed here are author’s alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer’s Affiliate Program. Please visit our Advertiser Disclosure for additional details.

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Capital One Savor Bonus
Reviewed by: Tony Phan
Published on: October 22, 2018
Last modified: October 22, 2018

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Contents

1 Savor Rewards Card $500 Bonus
- 1.1 Ways To Meet The Spending Requirement
2 Savor Rewards Card Benefits
3 What’s The Competition?
- 3.1 Travel Card Options To Consider
- 3.2 No Annual Fee Card Options To Consider

Capital One has launched the Capital One Savor rewards credit card now that their Premier Dining Rewards card is no longer available. Capital One has made several updates to this card since its initial offering. This new rewards card offering comes with an updated $500 sign-up bonus opportunity.

As the name subtly hints, this card is targeted to consumers that dine out often, where the earnings rate is the highest at 4% cash back (previously 3%). The updated 4% rate now also applies to purchases categorized as “entertainment”. The second highest earning category is for groceries, where you’ll earn 2% cash back.

What counts as dining?
Purchases at restaurants, cafes, bars, lounges, fast-food chains and bakeries.

What counts as entertainment?
Buying tickets to a movie, play, concert, sporting event, tourist attraction, theme park, aquarium, zoo, dance club, pool hall or bowling alley. Also, making purchases at record store and video rental locations. This excludes non-industry entertainment merchant codes like cable, digital streaming, and subscription services.

What counts as a grocery store?
A supermarket, meat locker, freezer, dairy product store and specialty market. Excludes superstores like Walmart and Target.

The $500 bonus is a big step up from the previous $100 promotion, but the trade-off now is that there’s an updated $95 annual fee (previously no annual fee). The good news is that the annual fee is waived the first year so you can give the card a full trial run. While there’s nothing groundbreaking with this card, it will come in handy for users with the intended needs.

If you travel often and dine out, you’ll be better off with other card choices that have higher earning potential for both categories of spending (the Barclaycard Arrival ^® Plus World Elite Mastercard^® is a popular choice, but has an annual fee).

If you’re mostly staying put in your hometown and eat out often, then this card may be the right fit for you. Or, perhaps you have a large family and everyone only eats organic, racking up hefty grocery spending each month.

If you’re not spending heavy on Dining, Entertainment and Groceries, there are several No Annual Fee credit cards that can earn 1.5% – 2% on ALL purchases (e.g. Capital One QuickSilver Cash Rewards [1.5%], Citi Double Cash [2%]).

Savor Rewards Card $500 Bonus

Earn some free meals with the $500 bonus!

A $500 sign-up bonus is a surprisingly high value offer for such a card. If you’d like to compare it to other great sign-up bonuses, see our Credit Card Bonuses page.

To earn the $500 bonus with the Savor rewards card, spend $3,000 on purchases within the first 3 months of account opening. This high spending requirement is expected for such a big bonus offer.

Learn More

Ways To Meet The Spending Requirement

If for whatever reason you find yourself unable to reach that $3,000 spending requirement in the first 3 months (maybe you’re applying for several card bonuses?), below are some good options:


MEETING CREDIT CARD BONUS SPENDING REQUIREMENTS Use Plastiq to pay with your card. Plastiq is a service that will allow you to pay for expenses that you wouldn't otherwise be able to with your card, such as rent, tuition, auto lease, mortgage payment, and more. They charge a 2.5% processing fee for using your credit card, but this will likely be worth the card bonus you'll obtain. They also have a referral program where you can earn "Fee-Free Dollars" to use towards processing fees. Go to Plastiq. Fund Checking accounts with your card. Many banks will allow you to fund the opening deposit with a credit card. To make the most out of this opportunity, you should consider opening Checking accounts that also offer a sign-up bonus. That way, you're working your way towards bonuses from two different sources. Big banks like Chase and TD Bank have great offers and allow credit card funding. You can often fund anywhere from $500 to $1,000 towards the opening deposit with a credit card, depending on the bank. Buy gift cards with your credit card. Consider buying gift cards that you can then spend later at your leisure. Individual merchant cards (e.g. restaurant, gas station, supermarket) typically don't have purchase fees so this route won't cost you. On the other hand, American Express and Visa gift cards will incur purchase fees. Amazon gift cards are also wonderful if you shop there often (no purchase fees either). Get some gift card ideas here. Be careful with Citi credit cards, as they tend to code gift card purchases as Cash Advances and you'll incur the fee. Call in to customer service and lower your Cash Advance limit to $0 before purchasing gift cards (it's a good idea to do this with any card in general). There are also options to buy discounted gift cards as well: Raise Gift Cards On eBay (auctions can save you even more with patience) Other ideas. Be sure to always using your credit card for everyday spending, such as for dining, gas, groceries, etc. You can also use your credit card to pay for things like insurance bills, property taxes and income taxes, but you'll have to consider the convenience fees. More ways to meet the spending requirement

MEETING CREDIT CARD BONUS SPENDING REQUIREMENTS

Use Plastiq to pay with your card. Plastiq is a service that will allow you to pay for expenses that you wouldn't otherwise be able to with your card, such as rent, tuition, auto lease, mortgage payment, and more. They charge a 2.5% processing fee for using your credit card, but this will likely be worth the card bonus you'll obtain. They also have a referral program where you can earn "Fee-Free Dollars" to use towards processing fees. Go to Plastiq.
Fund Checking accounts with your card. Many banks will allow you to fund the opening deposit with a credit card. To make the most out of this opportunity, you should consider opening Checking accounts that also offer a sign-up bonus. That way, you're working your way towards bonuses from two different sources. Big banks like Chase and TD Bank have great offers and allow credit card funding. You can often fund anywhere from $500 to $1,000 towards the opening deposit with a credit card, depending on the bank.
Buy gift cards with your credit card. Consider buying gift cards that you can then spend later at your leisure. Individual merchant cards (e.g. restaurant, gas station, supermarket) typically don't have purchase fees so this route won't cost you. On the other hand, American Express and Visa gift cards will incur purchase fees. Amazon gift cards are also wonderful if you shop there often (no purchase fees either). Get some gift card ideas here. *Be careful with Citi credit cards, as they tend to code gift card purchases as Cash Advances and you'll incur the fee. Call in to customer service and lower your Cash Advance limit to $0 before purchasing gift cards (it's a good idea to do this with any card in general). There are also options to buy discounted gift cards as well:
- Raise
- Gift Cards On eBay (auctions can save you even more with patience)
Other ideas. Be sure to always using your credit card for everyday spending, such as for dining, gas, groceries, etc. You can also use your credit card to pay for things like insurance bills, property taxes and income taxes, but you'll have to consider the convenience fees.

*More ways to meet the spending requirement

Savor Rewards Card Benefits

The 4% cash back on dining/entertainment and 2% on groceries (it’s the standard 1% on all other purchases) are the obvious reasons for jumping on this card, and the cash back you earn has no maximum caps and no rotating categories to be concerned with. Your cash back will never expire, and there’s actually no minimum threshold you must reach before you can redeem your earnings.

While we think it’s best to carry a better Travel specific credit card when you’re abroad, it’s nice to know the Savor card actually won’t incur any foreign transaction fees out of the country. It’s typically 3% for such spending with cards that don’t offer this perk.

Aside from these main card benefits, this card also comes with World Elite Mastercard Benefits:

Extended warranty protection at no charge on items that are purchased with your credit card.
Complimentary concierge service to help with booking travel, dining reservations, locating hard-to-find items and more—24 hours a day.
Identity Theft resolution services
Travel upgrades and savings like complimentary room upgrades, early check-in and late check-out when available, access to a portfolio of Luxury Hotels & Resorts and more.
Travel protection where you can be reimbursed up to $1,500 per trip for non-refundable travel expenses, if your trip is cancelled or cut short by things like sickness or injury.
Price protection where you can get reimbursed the price difference on eligible items when you find the same item for a lower price within 60 days of purchasing it with your credit card.

What’s The Competition?

The Savor rewards card from Capital One is actually a good option for those with specific Dining and Grocery spending needs, but you’ll definitely want to take a look at some other options before making the final decision.

Travel Card Options To Consider

For a card with better rewards and a sign-up bonus (but has an annual fee), see the Barclaycard Arrival ^® Plus World Elite Mastercard^®.

Barclaycard Arrival^® Plus World Elite Mastercard^®


The previously discontinued Barclaycard Arrival^® Plus World Elite Mastercard^® is now available again, and with a 60,000 bonus miles offer. The 60k bonus miles will be worth $600 when you redeem towards travel. If you take into account the 5% miles back every time you redeem perk, the 60k miles would then have a $630 value. This card also earns unlimited miles at the rate of 2 miles per $1 spent on all purchases regardless of category, and doesn't have foreign transaction fees on international purchases either. Full Review Learn More Enjoy 60,000 bonus miles after spending $5,000 on purchases in the first 90 days Earn unlimited 2X miles on every purchase Book travel your way-no airline, seat or hotel restrictions-and redeem your miles for travel statement credits Get 5% miles back to use toward your next redemption, every time you redeem No foreign transaction fees International Chip and PIN for use at self-service chip terminals around the world Miles don't expire as long as your account is open, active and in good standing See Rates & Fees Card Details Hide Card Details

Barclays Arrival Plus 60000 Bonus $630 Value

The previously discontinued Barclaycard Arrival^® Plus World Elite Mastercard^® is now available again, and with a 60,000 bonus miles offer. The 60k bonus miles will be worth $600 when you redeem towards travel. If you take into account the 5% miles back every time you redeem perk, the 60k miles would then have a $630 value.

This card also earns unlimited miles at the rate of 2 miles per $1 spent on all purchases regardless of category, and doesn't have foreign transaction fees on international purchases either. Full Review

Learn More

Enjoy 60,000 bonus miles after spending $5,000 on purchases in the first 90 days
Earn unlimited 2X miles on every purchase
Book travel your way-no airline, seat or hotel restrictions-and redeem your miles for travel statement credits
Get 5% miles back to use toward your next redemption, every time you redeem
No foreign transaction fees
International Chip and PIN for use at self-service chip terminals around the world
Miles don't expire as long as your account is open, active and in good standing
See Rates & Fees

Card Details

Hide Card Details

No Annual Fee Card Options To Consider

Capital One QuickSilver Cash Rewards, Citi Double Cash, and Blue Cash Everyday Card from American Express.

Capital One QuickSilver Cash Rewards


The Capital One Quicksilver Rewards card will earn a $150 bonus when you spend $500 on purchases within the first 3 months. The bonus offer is comparable to its top competitors, but this card earns a respectable 1.5% cash back on every purchase with no limit on how much you can earn. There are no spending categories to keep up with. There's a 0% introductory APR on both Purchases and Balance Transfers for the first 15 months with this card; variable APR after that. The Balance Transfer fee is 3% on the amounts transferred within the first 15 months. People like this card because of the cash back rate, the flexibility to redeem your cash back for any amount, and there's no annual fee. Capital One has also been offering an alternate $200 bonus* offer with different introductory APR terms for this card. Do a search for either "Quicksilver $150 bonus" or "Quicksilver $200 bonus" for these respective offers. Full Review

The Capital One Quicksilver Rewards card will earn a $150 bonus when you spend $500 on purchases within the first 3 months. The bonus offer is comparable to its top competitors, but this card earns a respectable 1.5% cash back on every purchase with no limit on how much you can earn. There are no spending categories to keep up with.

There's a 0% introductory APR on both Purchases and Balance Transfers for the first 15 months with this card; variable APR after that. The Balance Transfer fee is 3% on the amounts transferred within the first 15 months. People like this card because of the cash back rate, the flexibility to redeem your cash back for any amount, and there's no annual fee.

*Capital One has also been offering an alternate $200 bonus offer with different introductory APR terms for this card. Do a search for either "Quicksilver $150 bonus" or "Quicksilver $200 bonus" for these respective offers. Full Review

Citi Double Cash


The Citi Double Cash Card earns up to 2% cash back on all purchases. You'll earn 1% cash back for all purchases charged to the card. You'll then earn an additional 1% cash back when you pay off those purchases, as long as you pay at least the minimum due. There are no spending categories to keep up with. You'll also get a 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be based on your creditworthiness. There's no annual fee with this card. Full Review

The Citi Double Cash Card earns up to 2% cash back on all purchases. You'll earn 1% cash back for all purchases charged to the card. You'll then earn an additional 1% cash back when you pay off those purchases, as long as you pay at least the minimum due. There are no spending categories to keep up with.

You'll also get a 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be based on your creditworthiness. There's no annual fee with this card. Full Review

Blue Cash Everyday Card from American Express


The Blue Cash Everyday Card from American Express has a special promotion when you go straight to their website (it may not appear for everyone and likely will not if you're applying through third party websites). Earn $250 Back after you spend $1,000 in purchases on your new Card in your first 3 months of Card Membership. You will receive the $250 back in the form of a statement credit. Sometimes a lower $150 or $200 cash back offer will appear instead. This card earns 3% at U.S. supermarkets, up to $6,000 per year in purchases (then 1% after you reach the cap). You'll also get 2% at U.S. gas stations & select U.S. department stores. This is one of the best sign-up bonus offers for a card with no annual fee, and the ongoing cash back rate makes sense for those that spend heavy at supermarkets and on gas.

The Blue Cash Everyday Card from American Express has a special promotion when you go straight to their website (it may not appear for everyone and likely will not if you're applying through third party websites). Earn $250 Back after you spend $1,000 in purchases on your new Card in your first 3 months of Card Membership. You will receive the $250 back in the form of a statement credit. Sometimes a lower $150 or $200 cash back offer will appear instead.

This card earns 3% at U.S. supermarkets, up to $6,000 per year in purchases (then 1% after you reach the cap). You'll also get 2% at U.S. gas stations & select U.S. department stores. This is one of the best sign-up bonus offers for a card with no annual fee, and the ongoing cash back rate makes sense for those that spend heavy at supermarkets and on gas.

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